Netflix revealed Tuesday morning that it had struck an amended all-cash deal to purchase Warner Bros. Discovery’s streaming and studio assets, replacing the previous stock-and-cash agreement the two companies had reached last month.
The new bid, which was reported last week as in the works, comes as the streaming giant was prepared to report its earnings Tuesday. Netflix’s share price has been significantly down since the company’s previous earnings report last fall, which showed slowing subscriber growth, and has only continued to tumble following the WBD merger announcement last month.
